I have been working at Interactive Brokers full-time (More than a year)

Pros

I've been at "IB" for roughly two years after a rather tortuous journey at several large banks. There are basically two primary businesses at IB : 1. The market maker (electronic trading) and 2. The automated brokerage. I work for the latter. Probably the greatest feature (as a programmer) working for this company is that management, and management's management, are all programmers. As a result, the intricacies and difficulties of writing good code are understood by higher-ups and rewarded. For example, you will never have to waste your time explaining to a panel of bureaucrats the differences between Java and Excel at IB. In terms of "culture", IB is certainly a for-profit business and as a result, management does expect their employees to contribute to the business while at work. It is generally frowned upon to shop for clothes or view Facebook during the day, although I must admit that we do (gasp) discuss non-work related topics along with taking the occasional afternoon stroll down Greenwich Ave. without the least fear of managerial reprisals. At IB, There is not much emphasis on team-building field trips or pinball-matchine break rooms like some companies have, although this is not what I personally look for in an employer, especially not when the economy sours. My impression is that IB's philosophy is to reward their employees with higher salaries and bonuses, rather than the aforementioned corporate perks. In contrast to some of the criticisms I have read below about management being intransigent, I have found new business ideas and technology to be readily embraced here... HOWEVER, be ready to make a business case for them. The utter absence of bureaucracy means decisions are made based on risk and potential profit, i.e. rationally.

Cons

There are a multitude of very smart people at this company, with a wide variety of different skills and knowledge. I think that it would be beneficial to have monthly presentations on different aspects of the business or different technologies people are using. Nothing like this is ever discouraged, it's just that no one is particularly proactive about it. We are a bunch of computer nerds so we like this stuff (or at least I do).

I have been working at Interactive Brokers full-time (More than 3 years)

Pros

Interactive Brokers dispenses with office politics and maneuvering, and presents the opportunity to work for a true meritocracy. If you are a senior developer ready to bring coding expertise and elbow-grease to the table, this is the place for you.

Cons

It would be great if there was a greater variety of free drink choices for people who don't drink coffee - do there really need to be 12 different blends of coffee?

I have been working at Interactive Brokers full-time (More than 10 years)

Pros

- once you proved yourself, you have utmost freedom, only your output matters- compensation grows fast after a few years to a _very_ competitive level- most importantly, the company is evolving, most of the critics here have been listened to and are already being addressed!- hard work is valued- IT team is not a service department, but the driver of the company -- developers get the attention they deserve- only the most intelligent people (developers) are hired, creating an inspiring environment- you can use personal mobile internet anytime (it's up to you if your work suffers)- recently raised vacation days

Cons

Culture: introverted people, you have to actively look for opportunities to socializeHR team: not helpful and lots of mistakesBeing among selected smart people lowers your own ego :)

This is one if not the only place on Wall Street since the financial crisis that is stable and expanding. Stock Price has tripled, AUM has Grown, Company has no Debt. They have never laid off. What Firm on wall street can make that claim, ZERO!!!

Cons

The only downside risk is that you don't do your job to the best of your ability.

Advice to Management

Continue to Reward people who do well, and provide guidance and mentoring for ones that could be struggling.

I have been working at Interactive Brokers full-time (Less than a year)

Pros

- Very-unique culture suited for programmers (the company is run by the programmers)

- You can see the immediate impact of your work

- You have a chance to work on the best brokerage platform

- The CEO is interested in getting feedback from new employers

- There are no unnecessary meetings or conference calls

- Very good medical benefits and the premium paid 100% by the company

- Free lunch delivered directly to the kitchen for you (fine print: you eat in front of your computer :)

- Free soda (not good if you want to loose weight!)

- For those, who trade on the side - unlike other regulated financial companies (especially investment banks), IB doesn't force its employees to move investment accounts to some "approved" (and often expensive) brokers or prohibit frequent trading

My story:

Like the subject says "the grass wasn't greener" (on the other side). Long story short - I resigned and came back to work for IB again after working just a few days for another company. I had resigned from IB because I felt that I had found it difficult to innovate (by means of bringing new open source software). I moved to work for a large financial company (good benefits and modern technology stack). However, what I immediately started to dislike was a typical bureaucratic culture of a financial firm, where IT employees are treated as resources (not the drivers of the company), and where you have meetings upon meetings and status reports and endless work about work. Coming from IB culture that was a huge difference and I started having second thoughts about whether it was the right place for me and whether I had made the right decision to quit my job. I finally made my mind and contacted the Director of HR at IB and asked if it would be possible for me to come back. He then contacted the President of the company, who was very kind to allow me to return...IB like any other company has its pros and cons and it takes time to appreciate its specific culture. There are opportunities and rewards for those who want to work hard.

I have been working at Interactive Brokers full-time (More than 10 years)

Pros

The company is run by a highly intelligent and capable management team who has built the company from scratch. There is something to be said for a company where the average tenure of the executive team is > 25 years, and the next tranche of managers' tenure is > 10-15+ years.

Working at IB may not be for everyone, but for someone who wants to learn a lot, be exposed to a number of various groups / processes, and become an "owner" of a series of functions/responsibilities will do well here. People who want to show up, work 9-5, collect a pay check and go home may not find this work environment suitable. Managers demand a lot from employees given the lean structure. People who are intellectually curious, want increasing responsibility, will treat the company as if it's their own will typically flourish.

The compensation structure is geared towards longevity. It is not meant for fly-by-night two year, get rich and get out career layovers. With the amount of internally developed software and unique processes cultivated over the approx. 40 year history, training new people takes time, and it does take time to have people running on all pistons. That does not mean people can not immediately add value.

The company is growing in all directions, including head count, but it is still run as a small business. Management, having the benefit of multiple decades of experience, are able to meet and make quick decisions to continue the process of moving the business forward.

The overall comp and benefit structure is great. Free lunch from area restaurants is a nice perk.

In summary, it's a place where the right people have made amazing careers and it's a place where I believe people can continue to make amazing careers.

Cons

The days can be long, but in the long term this is more a function of a growing business than inefficient processes, most of which are highly automated.